Topic Claims Canada Archive
Are your tenant insurance clients fully covered?
September 29, 2023 by Jason ContantTenant insurance premiums in Ontario rose nearly 9% year-over-year, according to a recent blog from rate aggregator LowestRates.ca. Even though tenant insurance is one of the most cost-friendly coverages available, many renters take out the minimum coverage of $30,000 for…
State of emergency lifted 1.5 months after McDougall Creek wildfire
September 29, 2023 by The Canadian PressWEST KELOWNA, B.C. – Central Okanagan Emergency Operations has lifted the state of local emergency in West Kelowna, B.C., more than a month after the McDougall Creek wildfire devastated the area. It says it has also rescinded all remaining evacuation…
Cyberattacks hit Canadian military, Parliament websites
September 28, 2023 by The Canadian PressOTTAWA – The federal government is coping with apparent cyberattacks this week, as a hacker group in India claims it has sowed chaos in Ottawa. The Canadian Armed Forces says that its website became unavailable to mobile users midday Wednesday,…
Fire danger drops as cooler weather eases B.C.’s wildfire season
September 27, 2023 by The Canadian PressVANCOUVER – The British Columbia Wildfire Service says the fire danger rating across most of the province has dropped to low or very low as cool, damp fall weather arrives. The wildfire service says there have been no new fires…
Why this address misrepresentation ruling was set aside
September 27, 2023 by Jason ContantOntario’s Licence Appeal Tribunal (LAT) erred in law when ruling it had to rely solely on the Statutory Accident Benefits Schedule (SABS) and had no jurisdiction to award equitable remedies under the Insurance Act, a provincial court has found. In…
What’s contributing to rising auto premiums in Alberta?
September 26, 2023 by Jason ContantLitigation costs stand out as a major contributor to premiums drivers pay in Alberta, according to a new report from accounting firm MNP. Legal costs in Alberta’s auto insurance system have risen 31% since 2018 and account for roughly 20%…
Environment Canada warns B.C. coast to prepare for heavy winds, rain
September 25, 2023 by Jason ContantRain and a wind storm are expected for much of British Columbia’s coast, bringing gusts as strong as 110 kilometres per hour. Environment Canada warnings cover both northern and eastern Vancouver Island, as well as Victoria, portions of the Sunshine…
Why your cyber clients need to keep an eye on ransomware
September 25, 2023 by Jason ContantCanada was the third most affected country in the world for successful ransomware-as-a-service (RaaS) and extortion attacks in the first and second quarters of 2023, said a report from cybersecurity company Trend Micro. The report, LockBit, BlackCat, and Clop Prevail…
How well the industry protects policyholders against insolvency
September 22, 2023 by Jason ContantCanada’s P&C insurance industry compensation fund will almost entirely protect both personal and commercial lines policyholders in the event of an insurer insolvency, a comprehensive review of coverage and benefits has found. Should an insurer member of the Property and…
How Canada’s P&C insurers are faring under IFRS 17
September 21, 2023 by Jason ContantDespite significant changes to financial statements from IFRS 17, 2023 is shaping up to be an “average” year at best for Canada’s P&C insurers, even as continued Cat events remain likely to negatively impact Q3, says a new report. In…
Four young B.C. firefighters heading home die in head-on crash on highway
September 21, 2023 by Brenna Owen - THE CANADIAN PRESSFour young men travelling home after helping in the battle against wildfires in central British Columbia are dead after a fiery head-on crash, police and provincial officials said Wednesday. RCMP Cpl. James Grandy said emergency crews responded around 2 a.m.…
How ransomware claims are trending
September 20, 2023 by Jason ContantRansomware claims have transformed from mostly third-party liability claims into first-party liability, a cyber insurance expert tells Canadian Underwriter. “It used to be third-party liability; you were concerned about monitoring credit, and somebody sues you because of a hack,” said…